India's Reliance Retail talked to Office Depot-paper

MUMBAI, Feb 27 (Reuters) - India's Reliance Retail Ltd., a unit of Reliance Industries Ltd. (RELI.BO: Quote, Profile, Research), plans to roll out stationery stores and has held talks with Office Depot Inc. (ODP.N: Quote, Profile, Research), the Mint daily said on Tuesday. Reliance Retail aims to launch 250 standalone stationery stores by 2010, and has held talks with the world's No. 2 office supplies retailer for a wholesale joint venture, the newspaper said, citing a person familiar with the situation. “We are looking at creating standalone stores for stationery ... we are talking with several potential partners across the world for various partnerships," Bijou Kurien, Reliance Retail's chief executive for lifestyle, told the paper. Future Office, a subsidiary of Pantaloon Retail India Ltd. (PART.BO: Quote, Profile, Research), in January entered a joint venture agreement with top U.S. office supplies retailer Staples Inc. (SPLS.O: Quote, Profile, Research) for business-to-business and cash-and-carry operations. Pantaloon had estimated the Indian office products market at $10 billion.

Courtesy: EconomicTimes
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